Nationwide New Heights Select 12 review

Yes, for a specific type of buyer. This is a good annuity for someone who has a very long time horizon, wants the most aggressive features in the New Heights Select line, and is comfortable with the constraints that come with a 12-year surrender period. It is not a good fit for someone who may need liquidity, lives in an unavailable state, or is over age 75.

The main reason to buy New Heights Select 12 is to access the most aggressive accumulation and legacy features in the New Heights Select line. The 12-year surrender period gives the carrier the most room to structure competitive crediting terms, the 3-year strategy terms can unlock higher caps and participation rates, and the 5% EDB purchase payment bonus is the largest in the family. The secondary reason is the income rider optionality, which becomes particularly relevant with a 12-year product because the longer deferral period aligns well with income rider growth mechanics. In real life, this is the type of annuity someone buys when they are in their 50s or early 60s, have money they genuinely will not need for over a decade, and want to maximize both accumulation potential and legacy or income features.

New Heights Select 12 is best for a younger buyer — typically someone in their 50s or early 60s — who has a very long time horizon and wants the most aggressive features available in the New Heights Select line. It is also a reasonable fit for someone who specifically values the 5% EDB purchase payment bonus for legacy planning and is willing to accept the 12-year vesting period. It is less attractive for anyone over 75, anyone in Florida over 64, anyone who lives in a state where the product is not available, or anyone who may need more than 7% annual liquidity during the next 12 years.

You are not buying direct stock market participation. You are buying a principal-protected insurance contract that credits interest based in part on the performance of selected indices while protecting principal from market downturns. The real value here is the combination of protection, the most aggressive crediting features in the line, 3-year strategy terms, the highest EDB bonus, and the flexibility to customize the contract with an optional rider. This is a structured product designed for patient capital — money that can sit for a very long time in exchange for the best terms the carrier can offer.

New Heights Select 12 lets you allocate among several interest-crediting strategies tied to seven indices: Goldman Sachs New Horizons, J.P. Morgan Mozaic II, Loomis Sayles Discovery, Nasdaq-100 Volatility Control 10% PR, NYSE Zebra Edge II, S&P 500, and SG Macro Compass. Strategy terms are available in 1-year and 3-year durations. The Balanced Allocation Strategy options blend an index component, a declared rate component, and a strategy spread.

The 3-year strategy terms are a key feature here, just as they are in the 9-year version. But the 12-year product has the advantage of a longer overall runway, which means more strategy term cycles and more compounding opportunities. The Daily Accumulation Value tracks potential earnings daily, and the lock-in feature lets you lock the index value once per strategy term. The combination of aggressive crediting terms, 3-year strategies, and a 12-year runway is what makes this the highest-potential version in the line — for buyers who can commit to the timeline.

The optional rider menu is where the 12-year version distinguishes itself most clearly on the legacy side. The High Point Select EDB with Purchase Payment Bonus rider charges 0.95% annually and includes a 5% purchase payment bonus that vests over 12 years. That is the highest EDB bonus in the New Heights Select line, compared to 4% for the 9-year and 3% for the 8-year and 10-year versions. The base High Point Select Enhanced Death Benefit rider charges 0.55% annually (slightly higher than the 0.50% charged by other versions) and grows the minimum EDB at 4% compound to a 200% cap.

On the income side, the same two riders are available: the High Point 365 Select Lifetime Income rider (0.95% annual fee) with a 5-year deferral and 1% annual MIBV growth for 10 years, and the High Point 365 Select with Bonus rider (1.10% annual fee) with a 30% MIBV bonus and 9.5% compound growth for 12 years after a 1-year deferral. The 12-year product is particularly well-suited for the income riders because the longer surrender period naturally aligns with the deferral and growth periods built into the rider mechanics. Income rider issue ages are 40–75 (40–64 in Florida).

This annuity allows no free withdrawals in year 0. Starting in year 1, free withdrawals of up to 7% of contract value are available annually through year 11. After year 12, the free withdrawal amount increases to 10%. Amounts above the free withdrawal limit are subject to the surrender schedule of **10% / 10% / 10% / 10% / 10% / 9.5% / 9% / 8% / 7% / 6% / 5% / 4% / 0%**.

The surrender schedule is the most aggressive in the New Heights Select line. Charges stay at 10% for the first five full years, which means any early exit above the free withdrawal amount will be expensive. The schedule does not drop below 4% until the contract is fully out of surrender after year 12. RMD withdrawals are free of surrender charges and MVA. LTC and terminal illness waivers are available after year 1. The death benefit pays the greater of the DAV or surrender value. Buyers need to be genuinely comfortable that this money will not be needed for at least 12 years.

There is no base contract fee. Fees only apply if the buyer elects an optional rider. The income riders charge 0.95% or 1.10% annually depending on the version chosen. The enhanced death benefit riders charge 0.55% or 0.95% annually — both slightly higher than the corresponding riders on the shorter-duration versions. These fees are deducted from the contract value and will reduce the accumulation over time.

The less obvious tradeoffs are significant. The 12-year commitment is among the longest in the FIA market. Surrender charges at 10% for five years are punitive for early exits. State availability is limited to roughly 26 states, which excludes a large portion of the potential buyer pool. The max issue age of 75 (64 in Florida) narrows the market further. The 7% free withdrawal cap applies for 11 years. And while the crediting features are the most aggressive in the line, the fee drag from an optional rider over 12 years is also the most significant. Buyers need to weigh the aggressive features against the aggressive constraints.

New Heights Select 12 is issued by Nationwide Life and Annuity Insurance Company, a subsidiary of Nationwide Mutual Insurance Company, based in Columbus, Ohio. Nationwide is a Fortune 100 mutual company founded in 1926 with $322.3 billion in total assets. The company carries ratings of A+ from S&P, A+ from AM Best, and A1 from Moody's. Nationwide is one of the largest and most diversified insurance and financial services companies in the United States, and the New Heights Select line reflects a modern, accumulation-focused FIA design with meaningful rider optionality.